purchase-related transactions

Warwick’s Co., a women’s clothing store, purchased $75,000 of merchandise from a sup- plier on account, terms FOB destination, 2/10, n/30. Warwick’s returned $9,000 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. Journalize Warwick’s entries to record (a) the purchase, (b) the merchandise re- turn, and (c) the payment.

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